Commerce Bank Reduces Holdings in W. P. Carey Inc. (NYSE:WPC)

Commerce Bank lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,353 shares of the real estate investment trust’s stock after selling 268 shares during the period. Commerce Bank’s holdings in W. P. Carey were worth $583,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WPC. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in W. P. Carey in the 3rd quarter valued at approximately $640,000. Napa Wealth Management lifted its position in shares of W. P. Carey by 19.8% in the third quarter. Napa Wealth Management now owns 4,716 shares of the real estate investment trust’s stock valued at $294,000 after acquiring an additional 778 shares in the last quarter. Quest Partners LLC lifted its position in shares of W. P. Carey by 747.6% in the third quarter. Quest Partners LLC now owns 108,748 shares of the real estate investment trust’s stock valued at $6,775,000 after acquiring an additional 95,918 shares in the last quarter. Equity Investment Corp increased its position in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares in the last quarter. Finally, Swiss National Bank raised its stake in W. P. Carey by 0.4% in the 3rd quarter. Swiss National Bank now owns 649,451 shares of the real estate investment trust’s stock valued at $40,461,000 after purchasing an additional 2,300 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

NYSE WPC opened at $57.58 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey Inc. has a 1-year low of $53.09 and a 1-year high of $67.40. The firm has a market capitalization of $12.60 billion, a P/E ratio of 22.67, a P/E/G ratio of 1.06 and a beta of 0.95. The business’s 50-day simple moving average is $58.95 and its 200-day simple moving average is $58.23.

W. P. Carey (NYSE:WPC) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.62). W. P. Carey had a return on equity of 6.45% and a net margin of 35.12%. The business had revenue of $394.78 million for the quarter, compared to analysts’ expectations of $377.43 million. During the same quarter in the prior year, the firm earned $1.32 earnings per share. W. P. Carey’s quarterly revenue was down 11.9% compared to the same quarter last year. Equities analysts predict that W. P. Carey Inc. will post 4.52 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.875 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.50 annualized dividend and a yield of 6.08%. W. P. Carey’s dividend payout ratio (DPR) is 137.80%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WPC. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Royal Bank of Canada lowered their target price on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Scotiabank reduced their price target on W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Barclays increased their target price on W. P. Carey from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.88.

About W. P. Carey

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.